Statistics for Managers Questions Week 5

Statistics for Managers Questions Week 5

Confidence Intervals / Chi Square / Overall Reactions

 

Part One – Confidence Intervals

Read Lecture Thirteen. Lecture Thirteen introduces you to confidence intervals. What is a confidence interval, and why do some prefer them to single point estimates? Ask your manager what is preferred and why? What are the strengths and weaknesses of using confidence intervals in making decisions? (This should be started on Day 1.)

Part Two – Chi Square

Read Lecture Fourteen. As Lecture Fourteen notes, the chi-square test is—in some ways—fundamentally different than the previous tests we have looked at. In what ways and why is this approach important? Examples were shown of gender-degree distributions and employees per grade. How do these tests help with understanding our equal pay for equal work question? Do they change or reinforce our decision from last week? What situations in your personal or professional lives could use a chi-square approach? (This should be started on Day 3.)

Part Three – Overall Reactions

How can statistical careeranalysis help your professional?

 

Please sue the lectures provided

Also please answer in the format provided. No cover page necessary. Just:

Part one- Confidence Intervals

Answer…

Part 2-Chi Square

Answer…

Part Three – Overall Reactions

Answer…